Teck Resources Sells 49% Interest in Alberta Wind Farm

January 26, 2017January 26, 2017Bill Welsh

Teck Resources said Thursday it has agreed to sell its 49% interest in the Wintering Hills wind power facility to IKEA Canada for CAD58.6 million ($44.8 million). The joint owner in the Wintering Hills wind farm, TA Wintering Hills L.P., a subsidiary of TransAlta Corp (TAC) has also sold its 51% stake to IKEA Canada.

Wintering Hills is an 88 megawatt wind power facility located in Alberta, Canada, and was commissioned in 2011. The transaction is expected to close in Feb. IKEA Canada is purchasing the wind farm in an effort to produce more renewable energy than it consumes.